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Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development, Market Research

Market Spotlight: Currently Proposed Rezoning Applications in City of Vancouver

Here is a look at the 31 rezoning applications in the City of Vancouver that have not yet been approved. The various applications have been ranked based upon the % increase in density.

[table id=17 /]

Some interesting observations:

  • The average proposed % increase in density is 157%. (Average existing density is 2.00 FSR compared to the average proposed density of 4.42 FSR)
  • The top 7 proposed increases in density are single family assemblies along the Cambie Corridor.
  • Outside the Cambie Corridor, the average % increase is relatively modest, only 98%.
  • Of the 31 rezoning apps:
    • 21 are on the Westside of Vancouver, 10 in East Vancouver
    • 14 contain some form of rental housing.
    • 19 will likely require some form of Community Amenity Contribution*
    • 13 propose mid-rise or highrise forms (only 6 outside Downtown)
August 28, 2013by david.taylor@colliers.com
Development

Regent International Proposing 70 Units at King Edward & Cambie

Regent International has applied to the City of Vancouver to rezone 563-571 West King Edward Avenue from RS-5 to CD-1. Regent had acquired the assembly of single family lots earlier in 2013563-571 King Edward. The property falls within the Cambie Corridor Plan.

 

The proposal is for a six-storey building and four townhouses, with:

    • a total of 70 condo units;
    • a floor area of 52,142 SF
    • a density of 2.43 FSR
    • a building height 70 ft
    • 44 underground parking spaces, including two car share spaces.

More information here.

August 27, 2013by david.taylor@colliers.com
Development

Rezoning Proposed for Stongs on Dunbar

The owners of the Stongs property at 4508-4560 Dunbar Street have applied to the City of Vancouver to rezone the property, and an adjacent single family lot from C-2 and RS-5 and to CD. Stongs Dunbar

The proposed project includes:

    • on the Dunbar Street site, a 6-storey mixed use building with new Stongs (20,124 SF) and two smaller commercial units on the first level and 72 condo units (74,935 SF) above the store.
    • on the West 30th Avenue property, 11 3-storey townhouses (12,579 SF)
    • a public plaza at the northeast corner of Dunbar Street and West 30th Avenue;
    • a combined density of 2.51FSR
    • 234 vehicle parking spaces, three loading spaces and 111 class A bicycle spaces (each site includes two levels of underground parking).

More information here.

August 27, 2013by david.taylor@colliers.com
Development

Proposed Richmond High-rise Would House International Students

Proposed Richmond high-rise would house international students – Richmond Review.54844richmondglobaleducationcityrendering

A $150-million development proposed for north Richmond could become an international hub for education, boasting a potential to accommodate 600 foreign students, along with language schools, colleges and universities.

Dubbed Global Education City, the development would occupy a site on the west side of No. 3 Road, between Bridgeport Road and Sea Island Way, near River Rock Casino Resort.

Wensley Architecture Ltd. has submitted plans to city hall for a nine-storey office and campus building fronting Sea Island Way, a 15-storey dormitory building at No. 3 Road, and a six-level parkade and amenity building fronting Bridgeport Road, according to the city.

Planning staff are reviewing the proposal, which has yet to be considered by city council.

Read more: http://www.richmondreview.com/news/220748251.html

August 26, 2013by david.taylor@colliers.com
Development

Marpole Residents Rally Against Proposed Zoning Changes

Marpole residents rally against proposed zoning changes.

Close to 1,000 residents streamed into Marpole community centre Sunday to sign petitions and pick up lawn signs protesting proposed zoning changes in their neighbourhood.

The City of Vancouver’s draft community plan for Marpole includes rezoning to allow more highrises, apartments up to 12 storeys, stacked townhouses and mixed-use buildings.

Community spokesman Mike Burdick said the draft plan, which goes to council for consideration on October 24, came as a surprise to most Marpole residents.

“We are not opposed to rezoning or densification,” said Burdick, “but we need to slow down.”

Burdick said the city wants to increase the density of Marpole by as much as 50 per cent.

“Do the transit routes first, then take a breath and see if we need to do more.”

Read more: http://www.vancouversun.com/business/Marpole+residents+rally+against+proposed+zoning+changes/8804334/story.html#ixzz2cQec7Iw9
August 19, 2013by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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